Bank of St. Vincent and the Grenadines reports EC$15.03 million loss

The Bank of St. Vincent and the Grenadines (BOSVG) reported an unaudited net loss of EC$15.03 million for the first six months of 2026. This represents a significant downturn from the EC$21.81 million profit recorded during the same period in 2025.

The loss was primarily driven by a sharp increase in allowances for credit losses, which rose to EC$42.28 million from EC$2.13 million in the first half of 2025. This single expense accounted for approximately 98 per cent of the year-on-year deterioration in pre-tax results. Despite the net loss, the bank’s core operating income saw slight growth, rising from EC$60.31 million to EC$61.41 million, supported by a 5.8 per cent increase in net interest income.

BOSVG’s balance sheet expanded during this period, with total assets reaching EC$2.30 billion as of June 30, 2026. Customer deposits also grew, surpassing the EC$2.00 billion milestone, while loans and advances to customers increased to EC$1.03 billion.